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Acumen Research and Consulting, recently published report titled “Recycled Metal Market Size, Share, Growth Opportunities and Forecast, 2019 – 2026”.The rise in awareness of power savings by secondary metal manufacturing, i.e. metal recycling, drives mainly expansion in the recycled metal industry. Metal manufacturers have begun to adopt sophisticated power management technologies to reduce their environmental impact.
In steel manufacturing, electricity consumed accounts for about 8.3 percent of the world's energy consumption. In addition, the mining method contributes to greenhouse gas emissions. The main manufacturing of metals includes metal extraction from metal ores, whilst the secondary production includes the preparation of scrap metals.
Primary ferrous manufacturing involves iron oxide reduction to iron by decreasing coke, coal and natural gas agents. The decrease is achieved at a high temperature and involves elevated energy. In the secondary manufacturing of scrap metal, however, the electric arc furnace (EAF) method is used. The method is much less energy-consuming. Thus, the energy consumption is considerably greater for prime ferrous metal manufacturing than for secondary manufacturing. Consequently, secondary ferrous metal manufacturing via recycled metal reduces the costs.
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The production of 100 kilograms of bauxite ore aluminum needs power from 4,700 terra joules. Furthermore, it also entails considerable amounts of energy to produce non-ferrous metals such as copper, lead, nickel and zinc. In addition, the extraction method leads to greenhouse gas emissions. Non-ferrous metals can, however, be generated from scrap metal sources via a cost-effective technique with a considerably low energy consumption. During secondary manufacturing of non-ferrous metals the emission of carbon dioxide is decreased.
Metal manufacturers have begun adopting state-of - the-art power management technologies to reduce their environmental impact. Recycled metal will assist industry players in the near future attain their sustainable objectives. In turn, the recycled metal market is projected to be driven in the coming few years.
Increase in E-waste Production to Enhance Recycled Metal Market
Over the past few years, e-waste generation has risen considerably. The digital revolution has led to constant development in the electronics sector. The market for electric and electronic products is driving changes in consumer requirements and steady technological improvements. As a consequence, new phones with enhanced technology are replacing electronic products with standard technology. This in turn drives waste generation from electronic and electrical machinery discarded.
The use of electronic residues can be supported by a well designed and efficient recycling scheme. Electronic waste management systems discourage precious metal loss and reduce greenhouse gas emissions.
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In order to satisfy the increased demand for metals within a number of end users sectors, the rate of metal recycling from e-waste is expected to significantly improve over the next few years. E-waste is therefore anticipated to be the most promising recycled metal source, with a considerable increase in e-waste generation and increased steel demand.
Asia-Pacific represented an important share of the recycled steel industry in 2017 in terms of income and quantity. It is estimated that expansion in the automotive and building & construction sectors (specially new buildings) will provide profitable market possibilities in the forecast era.
In 2018, as regards sales and volumes, Europe followed Asia Pacific. During the prediction era, this trend is expected to proceed. Compared to Rest of Europe, the general recycling rates for multiple metals in the EU-28 nations are high. In North America, the United States has a substantial market share.
Market Segmentation
Global Recycled Metal Market, By Metal
Non-ferrous Metals
Aluminum
Lead
Copper
Others
Ferrous Metals
Precious Metals
Global Recycled Metal Market, By End Use
Construction and Building
Electrical and Electronics
Shipbuilding
Automotive
Industrial Machinery
Global Recycled Metal Market, By Geography
North America
Europe
Asia-Pacific
Latin America
Middle East and Africa (MEA)
Some of the major processed metal industry players are Nucor Corporation, Commercial Metal Company, European Metal Recycling, Aurubis Ag, Steel Dynamics, ELG Haniel Gmbh, Novelis, Sims Metal Management, and Schnitzer Steel.
Key Takeaways
• Extensive analysis of market trends from 2019 to 2026 to identify growth opportunities and market developments
• Identification of key factors useful to build a roadmap of growth opportunities for the recycled metal market at the global, regional, and country levels
• Comprehensive analysis with respect to investments and regulatory scenario that would subsequently impact the outlook and forecast for the global recycled metal market between 2019 and 2026
• Detailed competition landscape of key players operating in the market to help understand the competition level
• Gross profit margin analysis, by end-user
• Detailed pricing analysis based on regional and end-user segments
• Porter’s Five Forces analysis that highlights the power of buyers and suppliers
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
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Contact Info:
Name: Frank Wilson
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Organization: Acumen Research and Consulting
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Release ID: 88890352
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